Canada-based ATB Financial, the largest public bank on the North American continent, recently published that it onboarded smartTrade. This is a French provider of multi-asset electronic trading platforms, and it offers one of the most advanced FX solutions on the market. ATB Financial onboarded it as the new client-facing FX web platform, according to the Thursday joint statement.

ATB Financial is the largest public bank in North America, with $59.1 billion in assets. The bank explained that it decided to use smartTrade’s solution as it offers sophisticated pre-trade, trade, post-trade, as well as payment workflows. As such, it meets all of the bank’s needs for a vendor who has an in-depth understanding of FX trading and distribution. On top of that, it also has the required technology, with a true end-to-end solution that includes connectivity to support teams and liquidity providers.

This is important in order to satisfy the needs of the bank’s client base, according to VP of Banking & Payment Solutions Ryan Rabin. He noted that smartTrade also has the necessary experience when it comes to integration of different book of record providers, as well as payment engines. This experience was very helpful when it came to speeding up the onboarding process.

smartTrade has great expansion plans for 2023

Meanwhile, David Vincent, the founder and CEO of smartTrade, stated that his company offers sophisticated functionality, and this is what made it possible for ATB to reduce its dependence on manual processes. He added that the partnership has allowed the bank to free up internal resources while offering an improved service to its customers.

Apart from announcing the partnership, smartTrade recently also announced its plans to expand. In fact, the firm has been working on it for some time. A year ago, it acquired TickTrade Systems — a forex trading and payments SaaS solution provider from Toronto. SmartTrade finalized the acquisition in 2022, and it also integrated all teams and products soon after that.

Recently, the company disclosed that its 2022 has been highly successful, thanks to its expansions to a number of new regions, including Switzerland, Nordic, UK, Japan, the US, and it opened a new office in Paris.

On top of that, it also strengthened its executive leadership team by hiring a number of new employees throughout Europe.

Its subsidiaries did well in 2022 as well, given the state of the global economy. The UK subsidiary, for example, managed to remain profitable in 2022, securing a net profit of 206.8k GBP, during the year when fintech firms saw major struggle to stay afloat.

Even so, the UK subsidiary did see a 4.5% dip when it came to annual turnover. Vincent noted that the firm has great plans for 2023, including ensuring a strong focus on growth, which should come easier now that the TickTrade integration has been completed. However, the company does not plan to stop there. Instead, it is already planning new acquisitions to expand its product offering, and to expand into new regions of the world.